The capital injection included participation from previous investor PSG
Assembly, a leading eCommerce software and data platform, today announces a significant capital injection led by Advent International (“Advent”), one of the largest and most experienced global private equity investors. PSG, a leading growth equity firm partnering with middle-market software and technology-enabled services companies, also participated in the round.
This round, which has boosted Assembly’s valuation to north of $1 billion, will be used to continue fueling its growth plans and mission to provide the best software, content and communities that support eCommerce merchants.
“What aggregators have done for brands, we have been doing for software,” says Sandeep Kella, Co-founder and CEO of Assembly. “We are singularly focused on helping eCommerce merchants grow better by bringing together software tools and combining them with valuable content. Our mission is to meet our customers’ needs at every stage of their growth.”
In the last two years, Assembly acquired five companies, successfully launched 30+ new products to support users, and helped its customers scale revenue more than 125% in aggregate. This results in record growth for Assembly with a 260% increase in ARR since 2019, 230% increase in paying customers, and more than $55B in gross merchandise value directly connected to its applications.
Navigating the complexities of today’s eCommerce market, however, cannot rely solely on software. Education and community are crucial to help sellers thrive. As such, Assembly has created thousands of hours of up-to-date content to help merchants stay ahead and get the most from their software. Today, their community has grown stronger than ever with more than 350,000 active members collaborating in private groups and more than one million podcast downloads across all properties.
With this new capital, Assembly plans to add new industry-first capabilities, expand existing capabilities into new eCommerce platforms, acquire more companies to expedite its product roadmap, and hire more than 200 new employees in the next year. The company aims to offer best-in-class solutions regardless of where an eCommerce merchant is selling, whether that be marketplaces, direct-to-consumer websites, or, more recently, social networks.
“There are millions of eCommerce merchants globally that need world-class software to operate more profitably in an increasingly complex multi-channel world,” said Eric Wei, a Managing Director on Advent’s technology team in Palo Alto. “Assembly is a clear SaaS leader in terms of market intelligence data, user community, and merchant relationships. With Advent’s capital, we believe Assembly will become the industry platform to enable all merchants to thrive.”
“We’re incredibly proud of the growth the Assembly team has achieved to date and the exciting path the company is on as it aims to serve as a one-stop-shop for e-commerce merchants,” said Matt Stone, Managing Director at PSG. “We thank Sandeep and the entire Assembly team for their dedication and hard work, and we’re excited to continue our partnership to support the next phase of Assembly’s evolution.”
Today, there are nearly 80 different software categories within the eCommerce ecosystem, forcing merchants to navigate over 6,000 solutions. With an established track record of success and an industry-leading team, Assembly continues to be at the forefront for equipping today’s merchants with the right software solutions at the right time, with the right education.
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